'There was so much more we could do,' Yorio said. 'So we decided to build an entire company.' This premium story was unlocked by Verizon.
Realm was spun out of Republic in October. By December, the startup team had grown to 34 people, and she had received four term sheets to raise a Series A seed round, all of them inbound.In February, the company announced its Series A and its new name: Everyrealm.
The round was oversubscribed, she said, meaning that more investors wanted to buy stock in her young company than she was prepared to sell. And that brought a new set of challenges. "I was not familiar with people being angry that they don't get an allocation," she said."That's a different dynamic than I've ever had before.
Yorio said investors were interested in her company because it solved three problems. It helps those who want a piece of virtual property but don't know how to get it, companies who want access but don't know how to build it, content creators and celebrities who want to create in the metaverse but don't know what to do.
She believes that the market understands that the technology needed for the metaverse is complicated, and she intends Everyrealm to be a leader, she said. But for now, she said her job was to"keep calm and keep navigating forward."Subscribe to push notifications
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